New London cryptocurrency exchange starts operating with a bitcoin debit card

15 November 2017

The London Block Exchange (LBX), a UK-based fintech startup operating digital asset exchange, is starting its work with the introduction of a debit card enabling users to pay for their purchases with bitcoin at any location across the nation, where Visa cards are accepted.

The LBX represents a cryptocurrency exchange, where retail investors and institutions will be able to trade cryptocurrencies, including bitcoin, Ethereum, Litecoin, Monero and Ripple using a special application developed by the company.

The application, however, comes with a linked Visa ‘Dragoncard’ providing users with a possibility to convert their existing cryptocurrency on the balance into pounds at the retail locations at the rate of 0.5% charged by LBX.

Speaking for LBX, Benjamin Dives notes that a shop accepting Visa card automatically accepts Bitcoin, Ethereum, Litecoin and Ripple. Adam Bryant, an executive chairman, also adds that the cryptocurrency industry is becoming mature with LBX as the startup benefits from the robust experience of its team to help investors safely and conveniently trade digital currencies.

At the moment LBX is available for preliminary registration process and is scheduled to start operating in partnership with several institutions within the coming several weeks, after which it will become fully public.